Infrared Thermometers Market Analysis

Infrared Thermometers Market Analysis

Based on product type, the market is segmented into handheld infrared thermometers, pocket infrared thermometers, and fixed mount infrared thermometers. The handheld infrared thermometers surpassed USD 1,320 million in 2021. Handheld thermometers devices are systems that facilitates temperature measurement through devices held in hand. These device type majorly offers a combination of advance technology and a comprehensive range of applications that is helping the operators to provide focused & accurate outcomes. The significant applications of handheld thermometers are gaining significant demand in developing countries, particularly due to rising COVID-19 patients, patients suffering from infectious diseases, measuring effectiveness of the medical treatment, among others. Therefore, above mentioned factors are expected to positively influence the handheld thermometers demand.
 

Based on measurement point, the market is segmented into ear infrared thermometers, forehead infrared thermometers, and multifunction infrared thermometers. The forehead infrared thermometers segment is anticipated to reach around USD 404 million by 2028. This majority revenue share is highly attributed to forehead thermometers delivering quick and accurate detection of body temperature at lower handling costs. Due to the high prevalence of COVID-19 pandemic, temperature measurement was an important factor to be considered for evaluation of good health. As this virus can spread via touch devices with touch-free technology were required during the pandemic.
 

Forehead thermometers were a perfect device to instantly determine and measure the body temperature of any individual with accurate readings. This helps to determine and detect illness and also measure the effectiveness of the ongoing treatment. The launch of technological advanced devices by prominent players is further set to drive the market share. Hence, owing to a host of advantages provided by forehead thermometers coupled with the development of precise temperature measurement systems are expected to stimulate infrared thermometers market growth in the coming years.
 

Based on application, the market is segmented into medical infrared thermometers and veterinary infrared thermometers. The medical infrared thermometers segment is expected to reach over USD 538 million by 2028. This assertive market share is owing to the rising medical complications due to a broad range of infectious diseases and rise in the number of COVID-19 patients, thereby prevailing the use of thermometers in medical and healthcare facilities across the globe. For instance, as per the article published by the National Centre for Biotechnology Information (NCBI), an estimated over 50 million people suffered from fatal infectious diseases every year worldwide.
 

The COVID-19 pandemic also promoted the research activities associated with drug discovery for the treatment of this infectious disease such as infectious mononucleosis, influenza, salmonella infections, and tuberculosis among others. Medical thermometers are most probably used in hospitals, healthcare clinics, and other isolation facilities. These thermometers measure accurate and contactless temperatures using optical components and infrared detector. Innovations in thermometers and customization along with full traceability, reliability, and security features to handle increasing regulatory requirements. Thus, a host of capabilities possessed by these thermometers is projected to augment the use of these devices in the pharmaceutical industry, thereby driving the market growth significantly.
 

Based on distribution channel, the market is segmented into retail stores and online channels. The retail stores segment exceeded USD 1,230 in 2021. This majority market share attributed to the easy accessibility, brand familiarity, and availability of these thermometers in the retail stores. Additionally, effective pricing strategies and promotional offers incurred by the retail stores enhance the sales of these thermometers. Accurate and precise information provided by these outlets to customers and patients influences buying intentions and liberty of consumers. Due to the rising infectious diseases and COVID-19 patients in the recent years have influence the people to have a routine check-up or monitoring of temperature at home and other feasible locations. Thus, the above-mentioned factors play a significant role in the buying choices of a consumer that leads to segmental expansion.
 

Based on end-use, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The hospitals and clinics segment is anticipated to reach over USD 306 million by 2028. This substantial growth is owing to the growing adoption of thermometers in hospitals and clinics. Owing to the emergence of the COVID-19 pandemic, several players are focusing to introduce advanced technological devices comprising of accurate temperature measurement thermometers for hospitals and clinics. These thermometers are installed with optical components, IR detector, electronics, and a display or interface output stage which help to continuously monitor the temperature of patients suffering from infectious diseases. Owing to numerous benefits offered by these thermometers in essential data collection of patients is set to promote business demand.
 

The notable contribution of R&D by the major players is expected to increase the product acceptance rate. According to the survey of National Health Expenditure Accounts (NHEA), hospitals and clinics account for around 9.7% of total healthcare costs in the U.S. Additionally, as per the reports published by American Hospital Association, in 2017, there were approximately 36.5 million admissions in the hospitals, thereby, signalling the demand for advanced thermometers and temperature measuring devices therefore fuelling the industry size. The rising prevalence of infectious diseases such as influenza, malaria, pneumonia, etc. is also contributing to the revenue growth.
 

U.S. infrared thermometers market is anticipated to reach over USD 215 million by 2028. This high revenue share is due to the growing prevalence of infectious diseases, rising R&D activities & investment, etc. According to the recent reports from the U.S. Centres for Disease Control and Prevention (CDC) over 13 million people suffered for Influenza type A & B in 2020. Moreover, according to the recement statistics published by the WHO, around 784 million confirmed cases of COVID-19 were reported in U.S in 2021. These thermometers were used continuously to monitor the temperature of these patient so as to take necessary precautions for future treatment.
 

The U.S. has an excellent healthcare spending potential that is increasing and making it a very lucrative opportunity for the industry. Rising popularity of homecare solutions and increasing healthcare expenditure indicates the need for advanced thermometers in the U.S. Presence of prime manufacturers of high-end thermometers in the U.S. such as Welch Allyn, Exergen Corp, among others also facilitate revenue growth in the nation.